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Price Upon Req.235,650 SF
INDICATIVE BIDS DUE 04/08/16Property tours will be available. Please contact the listing broker to RSVP and schedule a tour.AUCTION TIMELINEApril 8, 2016 - Indicative bid due dateApril 13. 2016 - Notice provided to final round biddersApril 19, 2016 - Refundable bidder deposit due to escrowMay 4, 2016 - Best and final auction dateMay 4, 2016 - Purchase and sale agreement signedMay 5, 2016 - Earnest money deposit posted to escrowClose of Escrow - TBDINVESTMENT HIGHLIGHTSStrengths and Opportunities Unique to La Ventana Apartment HomesIncredible Value-Add Opportunity22 of the 256 units already rehabbed with an average rent increase of $100/month. Edge of Summerlin demographic. Three nearby properties either rehabbed or in the process. Perfect area for rehab. Over 97,000 jobs in a 5-mile radius! Turnover rent/sq. ft. rapidly increasing 18 DUA with condo conversion potentialGreat Visibility Excellent exposure with more than 800 feet of frontage along North Rainbow Boulevard.
Virtus Commercial is pleased to offer for sale Mark I which is own by the legendary developer of Multifamily, Mr. Frey located on 1020 E Desert Inn Road, Las Vegas, Nevada. The asset was built in 1975 with a flat roof, 118 units of studio, one and two bedrooms. It also comes with two detached retail buildings currently occupied by Papa John's Pizza and Asian Massage Place. Mark I is a fifteen story high rise building situated on 2 acres of lot with 103,9000 rentable square feet including the ground retail spaces. This asset has a tremendous potential to increase in value overtime because it is priced well below the replacement costs and the asset is one of the most iconic looking buildings in the neighborhood. The asset has recently gone through serious of renovations of the entire main floor and added a gym and has redone the hallways too.
For Rent or Sale 2 Bedroom/2 Bath condo with spectacular views of the Las Vegas Strip from the 6th floor. Newly renovated with tile floors, all new appliances, glass showers and granite countertops. Secure building with 24 hour guard, gated garage with 2 covered parking spaces. Swimming pool, tennis court, gym and party room. Available for $1,500 with 1 year lease.
Union Hall and training facility on 9.29 acres of land with an additional 3.03 acres fronting on Bonanza. All zoned C-1 in the City of Las Vegas.
Entitlements approved in May 2013 to construct a 6 story, 166 unit condo/apartment building including 47100 square feet of retail space including a 3 story parking garage. It is an assemblage of 8 parcels almost a whole city block. In the downtown re-development area. Several blocks from the Freemont Street Experience and the new Zappos Headquarters. And just a few short walking blocks away is the FAMOUS "PAWN STARS". Reviewing the numbers to make the project more feasible we consulted with the project Architect and changed the configuration to 320 units and 20400 sq. ft. of retail. At present this configuration is not entitled, however, Planning Department indicated that they would entertain recommending approval of the reconfiguration of 320 unit projects under the current approved entitlements.
Price Upon Req.440,400 SF
Garden variety with large roman tubs, fitness center, covered parking, and many other amenities.
THIS IS A VERY WELL MAINTAINED BUILDING IN THE HEART OF DOWNTOWN, CLOSE TO CASINOS IN THE REDEVELOPMENT AREA OF DOWNTOWN LAS VEGAS. ALL UNITS ARE KEPT IN VERY GOOD SHAPE, LONG TERM TENANTS. THE PROPERTY HAS POSSIBILITY OF INCREASED INCOME WITH SECTION 8 OR POSSIBLE HALFWAY HOUSE CONVERSION.
Potential Mixed Use Commercial-Multi Family/Highrise site! .25+/- Acres--Gateway to Down Town's New Justice Tower, George Lloyd US Courthouse and new proposed Court house all located at Clark and LV BLVD. 4, 2 Bdrms, 6, 1 bedroom. Rents range 575-675.00. Units are easy to rent and building is steadily filling up. Value is in the land! zoned R-4 and the General Plan is MXU. Mixed Use (L,ML,M,H,O,SC,GC,PF) can do General Com, Multi Family, Office Professional ETC. Financials available upon request. Square footage approximate, Cap Rate proforma only, not established yet. East of Las Vegas Blvd at 11th & Clark. Pkwy. Property at 1114 Maryland Pkwy Clark is available for purchase 12 units and .33 acres for a total assemblage of .58 Acres. Cap based on proforma with 5% vacancy rate.
Subject property is located in the northwest part of Las Vegas and is conveniently close to freeways, schools of all grade levels, major bus routes, shopping as well as main transportation arteries. Built in 1978 this property has over 3400 sqft of living space for tenants to enjoy along with a larger than average lot boasting 7841 total sqft. There are a total of 4 units all of which are two bedrooms two bathrooms with master walk in closets, tile, laminate or carpet flooring, central heat and air and plenty of on/off street parking for tenants to utilize. The grounds are gated and this property IS NOT subject to an HOA. The property has recently completed its rehab and is now being tenanted by the management company. Units will be renting for $675 & $650 per month with $2650 in gross monthly income and an annual gross income of $31,800 once fully occupied. There is also a coin operated laundry room on site for additional income generation. Priced below neighborhood comps this complex offers new ownership the opportunity to acquire an asset in great condition within a strong rental market with huge upside potential for rental rate increases as well as capital appreciation.
Subject property is located in the North East part of the Las Vegas valley offering a convenient location to schools shopping dinning and major transportation arteries. All units are two bedrooms one bathroom and are currently rented at $550 per month with tenants on 1 year leases. There is a laundry room with hook ups for additional income per month if new ownership desires to have equipment installed. New ownership can add value to this property by increasing rents to fair market value and also enjoy capital appreciation the area is experiencing.